Dublin, Dec. 13, 2023 (GLOBE NEWSWIRE) -- The "Global Fog Computing Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global fog computing market size reached US$ 174.3 Million in 2022. Looking forward, the market is expected to reach US$ 361.0 Million by 2028, exhibiting a growth rate (CAGR) of 12.90% during 2022-2028.
Fog computing is a decentralized computing framework that facilitates computing, storage, control, and networking services between end devices and computing data centers. It reduces the amount of data required for sending to the cloud, thereby saving network bandwidth and minimizing the response time of the system. It also assists in making processing faster and improving the overall security and efficiency of the system.
At present, it finds application in devices that require rigorous computation and processing and providing services over a large area at different geographical locations.
The agility and flexibility of big data solutions have led to an increase in the use of the Internet of Things (IoT), thereby resulting in the growing volume of digital data generation.
This represents one of the major factors encouraging enterprises and large organizations across the globe to adopt fog computing solutions for fulfilling the need of quickly accessing large amounts of data. Additionally, these solutions increase business agility by making the production of revenue-generating products and services more efficient.
They also provide a common framework for seamless collaboration and communication. Thus, the growing awareness about the advantages associated with fog computing solutions is increasing their sales over cloud computing. Besides this, the growing data security concerns on account of the rising instances of cyber threats are also propelling their use to connect multiple devices to a network and identify threats, such as potential hacks or malware.
Furthermore, the emerging trend of connected and modern vehicles is positively influencing the deployment of fog computing displays for car-to-car connectivity. Moreover, governments of several countries are investing in developing smart cities, which is creating a positive market outlook.
Key Questions Answered in This Report
- How big is the global fog computing market?
- What is the expected growth rate of the global fog computing market during 2023-2028?
- What are the key factors driving the global fog computing market?
- What has been the impact of COVID-19 on the global fog computing market?
- What is the breakup of the global fog computing market based on the component?
- What is the breakup of the global fog computing market based on the application?
- What are the key regions in the global fog computing market?
- Who are the key players/companies in the global fog computing market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 146 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $174.3 Million |
| Forecasted Market Value (USD) by 2028 | $361 Million |
| Compound Annual Growth Rate | 12.9% |
| Regions Covered | Global |
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players
- Abbott Laboratories
- Baxter International Inc.
- Bayer AG
- Becton Dickinson and Company
- Boston Scientific Corporation
- GlaxoSmithKline plc
- Johnson & Johnson
- Medtronic plc
- Novartis AG
- Smith & Nephew plc
- Stryker Corporation
- Terumo Corporation
Key Market Segmentation
Breakup by Component:
- Hardware
- Gateways
- Routers and Switches
- IP Video Cameras
- Sensors
- Micro Data Center
- Software
- Fog Computing Platform
- Customized Application Software
Breakup by Deployment Models:
- Private Fog Node
- Community Fog Node
- Public Fog Node
- Hybrid Fog Node
Breakup by Application:
- Building and Home Automation
- Smart Energy
- Smart Manufacturing
- Transportation and Logistics
- Connected Health
- Security and Emergencies
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Latin America
- Brazil
- Mexico
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/vxntgu
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